Bitcoin Forum

If you are a newcomer or even if not, the worst thing you could possibly do is sell your bitcoins while it is crashing. Humans are sheep, when they see a big movement, they follow. Don't base your decision to sell on what others are doing!

Some facts and why I think it will rise to at least 2-3k in a few months from now:
China is irrelevant. Yes, Chinese are loaded with money, and their volumes are high when they buy, but America is still the largest economy. And don't forget about Europe, 500 million, rich consumer market.

The recent and not so recent investments in bitcoin startups. Just imagine how much publicity and marketing all that can buy.

Billionaire backing. They know how to distinguish good from bad investments. That's pretty much what they do.

In 2-3 months from now, when Coinbase hits a million users, there will be another media surge. Circle is very promising. It has a huge financial injection. Bitstamp is becoming huge, Blochchain.info and other wallets are following.

Everyone knows about bitcoin but how many people are actually holding one? On reddit there might be many, but in the real world there aren't. There is a a lot of space for growth!

Give it some time. Let the startup founders do their jobs, and support the community and growth in any and every way you can. Selling when it's going down isn't one of them.

Just curious then,

Where do you see bitcoins in the next 2 years?

and

What is going to happen to the other currencies such as NMC and LTC?

Im holding on to mine, I have faith in BTC's future!  8)

best to sell when price is rising, buy when price is falling. generally.

Dont worry, at every crash Bitcoins are distributed from weak hands to more strong hands

Bitcoin will become worth a billion each. NMC and LTC will be worth millions each.

Don't take investment tips from people on the internet. Any advice on the price will be pure speculation and probably biased.

bitcoin in China: http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/

but if nooen sells. .the whoel trade dies out.

The whoel poitn of the market is to buy low, sell high - but you cant buy if noone sells.

I believe the OP point is different, when the bitcoin price is falling fast, it is hard to sell so you will be selling really low

Just an FYI. The founder bailed out and disappeared in 2011. His last post is here: https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=0

He left on these words: "... the software is not at all resistant to DoS attack. This is one improvement, but there are still more ways to attack than I can count." He made that statement then vanished with over a million bitcoins.

The changing of the guard is before us. The next phase in the evolution shall be the rising of the altcoins: http://coinmarketcap.com

Think of Bitcoin as the web crawler or the myspace of digital currency.  :D

Dont Panic. Keep patience. Follow the standard trading procedures. Bitcoin will not vanish. And also there are rooms for every altcoins.

Don't sell in a panic.
Also , bitcoin won't be killed by people stop trading if they continue using it. And that's actually it's purpose.

This is the whole point for daytraders, but the point of market is just to be able to buy or sell anytime

+1

exactly what i think

Yes, there is a a lot of space for growth, but there need to be much better ways to buy and sell Bitcoin. Today it is just for real believers to buy and sell Bitcoin (too much hassle now)

BTC will be between 100 and 1 000 usd in 2 years.
LTC and NMC will be almost dead.

According to me

is it possible to do short selling?

Yes, check my signature for instance :D

Go to YouTube and Search "Gyft and Bitcoin" that way people can use Bitcoins for Christmas instead of cashing out for gifts.

I hope it will be much easier to buy and sell Bitcoins, probably at ATMs

There will always be ups and downs with bitcoin in my opinion. It's just part of the natural cycle. For now...buy low..sell high my friends. It should go way higher than it is right now.

Once there is an altcoin with ATMs  we will see shit hit the fan.

Trading is risky, I preffer holding. I believe Bitcoin will go up in value a bit next years so just holding is fine

yeah i think you cant go wrong with holding, the BCT is so unpredictable lately, sit back relax and dont watch too much the swings comeback in 2-3 years haha

You better make backup of your wallet, many forget about the BTC only to find later they reformatted the hard disk ... Especially for low amount of BTC you can forget

Its just pump and Dump game, Chinese are clever, They want to collect cheap bitcoins with few irregular news and will sell same BTC after 2 months in 3K value. People are serious about Baidu and CHina Telecom news but people dont even know how much transaction they have done answer is 0, Baidu got 1.something coin as a donation while they were starting its just to make news to crash it down and to collect, Now check the volume of BTC China, if chinese were afraid and selling BTC then after crashing why same people are purchasing huge amount of BTC?
I sold my few BTC in 1200 and now i am purchasing double amount of what i sold. So now i am waiting again BTC will be in 2K+ withing few weeks so i will sell few again that time.

I think we have a ways to go before the market stabilizes. There's just too much fluctuation to accurately predict where the btc market will be going. From a traditional investors viewpoint, the most prudent thing to do would be 1) hold on and 2) buy in again

Well, it looks like someone figured out the game and started buying the moment our friendly little dumpers start selling.  The spread is now even less when the volume spikes as when it adjusts.

Remember, there isn't just the usual pump and dump.  You can also dump to crash the price of a volatile commodity, then buy it back when it oversells, for instance.  I suspect a lot of people are just cashing out.  But, some of these crashes over the past few days seem too...regular...

Yes, all I know is now the bitcoin is cheap so I bough few at 700, seems the crash was manipulated

sell sell! I need cheap btc;)

that post is not supposed to be posted in newbies section. If nobody is selling, how can nooby jump on boat at a fair price? ;D

This is an absolute opinion. There is no way to possibly predict the rise of bitcoins to 2-3k in the next couple of months. Cryptocurrency's are extremely volatile, to try and assert you can see the future like that is absurd.

This is my second post on this forum, but I've been warning people on other sites and Twitter that at this time BTC is in a bubble, but no one wanted to listen.  I was attacked ferociously for my short term bearish view.  That is one of the SUREST signs that a bubble is about to pop.  The "true believers" attack any opposing view as ridiculous.

Look at this chart showing the stages of a bubble.  BTC believers defending this drop as no big deal, buying opportunity, from weak hands to strong hands etc. etc.  THIS IS THE DENIAL STAGE.  Long way to go before believers hit DESPONDENCY.

https://twitter.com/YachtsOnTheReg/status/409383193796550656/photo/1  (https://twitter.com/YachtsOnTheReg/status/409383193796550656/photo/1)

Oh no, Denial Stage. I guess what graph you are talking about even without clicking your link.

But thank you for wanting to save us money, others would just spread FUD to make profit...

No skin off my ass if you don't bother looking.  I have never owned one CENT of btc.  I am NOT short and I don't plan on ever shorting btc.

"Those who don't learn from history are doomed to repeat it."

I completely agree! Should wait it out! but 2-3k for 1btc in months from now that would be pretty sweet!

Im selling a little bit below market... time to get out of game to many rollercoasters.

I am a trusted seller of btc and ltc if you want awesome prices and someone who the escrow danny will vouch for me.. I do two forms of payment WU, MP because that is the only way I Can trust you from not messing my paypal account up! I also provide photo id from the gov't for my security clearance! Let me know if you need anything.
9717174798
Michael

It is already easy to buy and sell bitcoin now...

yes more sales  means falls faster

Bitcoin is going to have a hard time controlling its volatility, which it will need to do in order for it to become a real currency.

I don't disagree that btc may someday become a medium of exchange that replaces highway robbers like Western Union or Money Gram, but at this moment in time, it is caught in a classic speculative mania/bubble.

I think going long now is like trying to catch a falling knife.  You will get hurt.  If the bubble follows the chart I posted, and it should, then there's a long way to go until btc hits bottom and true believers are in the DESPONDENCY stage.  Only then will it be time to buy at the "point of maximum financial opportunity".

https://twitter.com/YachtsOnTheReg/status/409383193796550656/photo/1 (https://twitter.com/YachtsOnTheReg/status/409383193796550656/photo/1)

Thank you for your kind thoughts but may I respectfully request you to fuck off?

HA HA!  Your response just proved my point.  Btc true believers are in the ANGER/DENIAL stage.  In this stage anyone who has a short term bearish view and/or who dares question their almost religious belief is attacked with ferocity, rage and ridicule. 

Only people who are losing money on their investment get that angry!

Newbies, please note the persecution troll.  Persecution trolls claim to be persecuted so they can justify making inflammatory remarks and insulting others, then claiming further persecution when they are called on their actions.  They are common on forums and usually haunt topics where people take themselves and their beliefs too seriously.  Further, they are often accepted by those that wish to be antagonized in a complementary attempt to feel justified in holding their position.  So, attempting to tell others to stop feeding them usually does no good.

Just remember that the comments are meant to reduce people to the mental level of vermin by kicking their emotions into overdrive, drowning out their reason, and then laughing as they squirm.  Think sadistic kid with a small animal and a firecracker that harps on how tough his life is before and after he gets caught...

This is my way of thinking. What I think btc "believers" should be worried about right now is not achieving the 2-3k bitcoin, no matter how much my coffers may subsequently smile. Instead, let's worry about stabilizing the value of the curreny so that people set prices in terms of bitcoin rather then setting the price in dollars and then converting to bitcoin based on the latest mtgox numbers. I want to be able to walk into a coffee shop and buy a cup of coffee for x bitcoins rather than $x = y btc @ exchange-rate z.

If we can do that (be it with bitcoins, altcoins, litecoins, WHATEVER!), then we can finally decouple the dollar from its position as the reserve currency of the world and the purpose of crypto-currency can truly shine. But in order to do this, we've got to find a way to change people's perspective on what to do with bitcoins.

Thanks for the psychological evaluation.  How much do I owe you?

How is saying what is factual, that every previous speculative bubble has collapsed in on itself, insulting or inflammatory?  You deem it insulting and inflammatory b/c of your own emotions and your reaction to my comments.  I've never insulted anyone, ie calling anyone an idiot, stupid for buying btc's etc.  i did laugh at Atran94's comment b/c it specifically illustrated the EXACT point I had made a few posts ago that any comments made by someone who is short term bearish or pointing out that btc resembles previous bubbles elicits an angry response.

I am not a troll.  I am just saying I have experienced the exact same reaction when I felt that the real estate market was in a bubble in 2007 and when I said Apple seemed overpriced and due for a sell off as it was climbing to $704 in 2012.  Whenever I posted something in an article's comments section or on a forum on those topics, I got the same reaction both times.  Everyone said no way, not gonna happen, you have no idea of what you're talking about etc. etc.  Some reacted angrily (Apple fanboys were particularly unhappy) and most laughed it off or said it was ridiculous.

And btw, as far as animals go, I have 2 dogs.  So you're way off there Dr. Freud.

Don't believe anything on the internet!
At least do some research. Study some economics, finance etc. than invest in cryptocurrencies. It's your own decision to sell or buy whenever you want. Follow the market but don't listen to everyone in the forums.

You've already paid...  you've already paid marvelously...

I 'm a true believer in bitcoin and i also believe that volatility hurts the currency badly. Obviously people will get angry when they lose money but they 'll also calm down in the next rise  :P

Wild volatility is not good for any currency, trade, investment, store of value etc. That's why the FOREX market is so boring. Those currencies rarely move more than 1-2% in a day.

btw, nice avatar.  i have that t-shirt

The sellers are morons. It's a bear trap!!!!!!!!  ;D

Buy and hold is the best strategy. If it "crashes" that is just an opportunity to buy cheaper.
Too many are caught up in the whole "buy" "sell" make a quick buck thing and most end up losing money "gambling" in Bitcoin. Bitcoin is meant as a means of commodity and not a way to get rich quick. While you can possibly make money this way, you are only hurting Bitcoin by selling with everyone else.
Overall Bitcoin is always rising in price and you will make money if you hold your coins. When the price goes high enough you might want to cash out some profit but don't cash out everything or you'll regret it because it's always on the rise. When the price "crashes" a couple hundred bucks the pros are laughing at you while you cash out and buy your cheap coins to hold. True believers hold strong because they know the price will correct far beyond the drop and don't panic because they have already made more than enough to compensate for the "crash".
Bitcoin is about more than making money. Although making money is nice.
Day traders are bad gamblers who generally lose money or greedy greedy people that don't care about Bitcoin as a commodity. Bitcoin is about Bitcoin, not fiat!

Just my two coins

I think the problem right now is that there's a substantial number of people investing into BTC as a speculative venture rather than as a currency. If someone is speculating on the future value of coins, they're coming in with a completely different mindset than someone who believes BTC is a currency, and will push up prices along the way. Once the speculative bubble bursts, BTC needs people to actually use it as a currency to buy and sell things in order for it to survive long term. This means it needs to be used for more than a few niche places in real life, a couple of illicit marketplaces, and as payment for ASIC mining equipment - which isn't the case right now. Until it is in use in a widespread way in physical locations, it's ripe for speculators to abuse.

Anyone holding BTC for a long period of time with the expectation that it will gain value on it's own is a speculator. People need to spend money, not hold onto it in a mattress. When it comes to currency, circulation is highly important, and any given successful currency needs to have a strong incentive to spend or invest rather than save in a mattress in order to provide the actual value associated with every currency - a means of exchange that is more convenient than barter.

Unfortunately, BTC (and other crypto) have a massive problem with the incentives for mining. They all make the assumption that people will mine because the coins will be worth more in the future than they are right now. Without this incentive, you don't have miners in the first place. With this incentive, you have a bunch of speculators involved with BTC until the last coin is mined.

If that is a moon rock or meteorite, I'll take it!

Spending is indeed also important! Gyft.com is a great place to trade in your Bitcoins for something of value. Besides gas and groceries and maybe a car what can you not get with an amazon gift card?

don't sell your bitcoins while price is falling, and don't sell while the price is rising.. then when to sell?

YOU DON'T EVER SELL!

Actually you sell when your profit margin is high enough that you can sell without taking out too much of your investment, which is currently potentially invaluable. Doubling your investment and cashing out what you put in while leaving the other half to simmer has always seemed like a good idea to me. If you make enough to pay off your house or car or credit card or whatever that also seems like a good idea.
It's not so much that you shouldn't cash out, but that you shouldn't cash everything out. Or that you start using Bitcoin as a commodity rather than an investment. If you're gonna have enough faith to cash in then you should have enough faith to leave some cash in.
The ultimate goal is that Bitcoin will be accepted same as cash, that's really kind of what you're investing in. If that's not what you're investing in then what are you investing in? Invest disposable cash into it, then if you want to dispose that cash cash some out, or purchase a gift card, or someday maybe a car

"Don't sell your bitcoins while it's falling!"


Does not make sense.


Of course, it is better to sell coins when the price is falling.
Indeed, if you sell when the price is increasing, then you missed some profit.


If you sell when the price is falling, you can buy them back cheaper a few hours/days later and make some profit.

I am new to the bitcoin markets and I'm afraid I made some rush choices. Whenever there is a steep drop I'm worried and I sell, then I buy-back soon after.

I'm just glad I did not sell ALL my Btc.

I guess a better strategy would be to have some cash ready and BUY when the price is down and wait, rather than selling BTC and wait for it to drop further.

I can listen to ideas you guys have on this.

Do not invest in btc if you can't afford to lose it.
Do not invest in btc if you clearly have no clue how to do it. :/

yeah i would say the same.. buy when it's falling, sell when it's going up

Never trade against the trend ....
Stupid.

I can afford to lose it.
You gotta start somewhere right? How does someone with no clue get a clue? By jumping in.

Do not sell with your emotion.
You are getting manipulated by the whales.


!

???

I DO NOT "VOUCH" FOR ANYBODY.

Some valid point too be had in the OP.  I can't agree more with not following the herd off of the cliff.  It's not easy but sometimes you just don't want to follow the pack and make you own way work.

What if the BTC value drops to $100 and you bought it when it dropped to $500 when it fluctuated from $800-$500 and then it steeps to $100? You should sell at $500 right to break even or even $800-$501 to profit but I decide to go with your strategy and not to sell at all. So your mentality is if it crashes I should still on hold onto my BTC because the investors must recover the value of BTC because they have invested too much infrastructure into it. I think BTC is over valued. We already know that China announced BTC as a commodity not a currency that is why it crashed to $500. What if other countries also announce the same thing and I think this will happen overtime when they realise if they can't regulate the protocal they can regulate how BTC and alt coins is distributed by gaining authority over all exchanges and shut down all other exchanges that decide to protest against it.

It's a very weird market, I think in the 1-3 years term it will definitely go up as more serious investors get involved and even more people are exposed to the concept. The currency is still in its infancy and the opportunity for fast profit exists. This will most likely change as the user base grows larger and more stable.

One of the best tip you can give to newbies!

you're right sir, some people just don't get it. It's called gambler's fallacy I believe

sure ;)